Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.19.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2018
Jun. 30, 2019
Dec. 31, 2018
Cash flows from operating activities          
Net loss $ (1,325,228) $ (283,618) $ (283,618) $ (2,648,744) $ (1,960,083)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization expense   103   5,005  
Loss on disposal of fixed assets 4,087 4,087  
Debt discounts     125,000 75,000
Stock-based compensation     15,000  
Amortization of options issued for services     649,255  
Decrease (increase) in assets:          
Other current assets     (110,741)  
Inventory     (24,978)  
Right-of-use assets     (258,754)  
Security deposits   (13,092)   (69,542)  
Increase (decrease) in liabilities:          
Accounts payable   7,957   53,935  
Accrued expenses   2,753   66,079  
Lease liability     260,919  
Net cash used in operating activities   (285,897)   (1,933,479)  
Cash flows from investing activities          
Purchase of fixed assets   (11,585)   (366,585)  
Net cash used in investing activities   (11,585)   (366,585)  
Cash flows from financing activities          
Proceeds from convertible note payable     500,000  
Proceeds from shareholders   207,000    
Repayment of advances from shareholders     (207,000)  
Proceeds from subscriptions receivable     602  
Proceeds from sale of common stock   500,000   1,950,000  
Net cash provided by financing activities   707,000   2,243,602  
Effect of exchange rate changes on cash   35,402   143,001  
Net increase in cash   444,920   86,539  
Cash - beginning     125,846
Cash - ending $ 212,385 444,920 $ 444,920 212,385 $ 125,846
Supplemental disclosures:          
Interest paid     14,965  
Income taxes paid      
Non-cash investing and financing transactions:          
Fair value of net assets acquired in merger     9,306  
Value of shares issued for conversion of debt     501,397  
Beneficial conversion feature     $ 125,000